MoonLake Immunotherapeutics (NASDAQ:MLTX) Receives $30.58 Consensus Price Target from Analysts

Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) have been given an average rating of “Hold” by the fifteen brokerages that are presently covering the firm, MarketBeat reports. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $30.5833.

MLTX has been the subject of several research reports. Guggenheim cut their price objective on MoonLake Immunotherapeutics from $80.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, September 30th. Redburn Atlantic raised MoonLake Immunotherapeutics to a “hold” rating in a research report on Monday, July 28th. Rothschild & Co Redburn began coverage on MoonLake Immunotherapeutics in a research report on Monday, July 28th. They issued a “neutral” rating and a $65.00 price objective on the stock. BTIG Research cut MoonLake Immunotherapeutics from a “buy” rating to a “neutral” rating and set a $85.00 price objective for the company. in a research report on Monday, September 29th. Finally, HC Wainwright raised shares of MoonLake Immunotherapeutics from a “neutral” rating to a “buy” rating and set a $30.00 target price for the company in a research note on Monday, November 3rd.

Insider Buying and Selling at MoonLake Immunotherapeutics

In related news, major shareholder Bihua Chen sold 6,494,151 shares of the company’s stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $7.21, for a total transaction of $46,822,828.71. Following the transaction, the insider owned 2,000,000 shares of the company’s stock, valued at approximately $14,420,000. This represents a 76.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 12.02% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Nuveen LLC purchased a new position in shares of MoonLake Immunotherapeutics during the 1st quarter worth $26,308,000. Vestal Point Capital LP increased its stake in MoonLake Immunotherapeutics by 175.0% in the second quarter. Vestal Point Capital LP now owns 550,000 shares of the company’s stock valued at $25,960,000 after purchasing an additional 350,000 shares during the last quarter. Balyasny Asset Management L.P. lifted its position in MoonLake Immunotherapeutics by 436.8% during the second quarter. Balyasny Asset Management L.P. now owns 423,170 shares of the company’s stock worth $19,974,000 after buying an additional 344,335 shares during the period. Millennium Management LLC boosted its stake in MoonLake Immunotherapeutics by 3,343.2% in the 1st quarter. Millennium Management LLC now owns 344,320 shares of the company’s stock worth $13,453,000 after buying an additional 334,320 shares during the last quarter. Finally, Octagon Capital Advisors LP purchased a new stake in MoonLake Immunotherapeutics in the 1st quarter valued at about $11,565,000. 93.85% of the stock is currently owned by institutional investors and hedge funds.

MoonLake Immunotherapeutics Trading Up 8.7%

NASDAQ:MLTX opened at $12.77 on Friday. MoonLake Immunotherapeutics has a 52-week low of $5.95 and a 52-week high of $62.75. The company has a quick ratio of 8.50, a current ratio of 8.50 and a debt-to-equity ratio of 0.25. The stock has a fifty day simple moving average of $25.20 and a 200-day simple moving average of $39.71. The company has a market capitalization of $820.22 million, a PE ratio of -3.85 and a beta of 1.13.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last posted its earnings results on Wednesday, November 5th. The company reported ($1.10) earnings per share for the quarter, missing the consensus estimate of ($0.89) by ($0.21). During the same quarter in the previous year, the firm posted ($0.56) EPS. On average, equities research analysts expect that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current fiscal year.

About MoonLake Immunotherapeutics

MoonLake Immunotherapeutics, a clinical-stage biopharmaceutical company, engages in developing therapies. It develops Sonelokimab, a novel investigational Nanobody for the treatment of inflammation diseases; and hidradenitis suppurativa, psoriatic arthritis, axial spondyloarthritis, and psoriasis. MoonLake Immunotherapeutics was incorporated in 2020 and is headquartered in Zug, Switzerland.